A PYMNTS Company

US: Allergan fights Valeant with its own mega-merger

By  |  November 6, 2014

Pharmaceutical conglomerate Allergan, in efforts to avoid a takeover by Valeant Pharmaceuticals, is reportedly seeking to merge with fellow pharma-giant Actavis.

Unnamed sources say Allergan, which manufactures Botox, is in active discussions with Actavis, though the sources noted that a deal is not guaranteed. Allergan revealed in a filing Thursday that it is in discussions with a third party about a separate merger, though did not specify with which company.

Allergan is looking to avoid a hostile takeover by Valeant in a deal valued at about $54 billion. The Botox maker has slammed the deal as “grossly inadequate” and has claimed the Canadian firm would severely cut Allergan’s research and development operations.

Full content: Bloomberg

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.